M&G European High Yield Bond Fund
James Tomlins
Fund Manager: James Tomlins
Funds Managed: M&G European High Yield Bond Fund
The Fund aims to maximise total return (the combination of income and growth of capital) while generating a high level of income.
The Fund mainly invests in higher yielding debt instruments denominated in any European currency and will normally be managed to give investors exposure to European currencies. The Fund’s exposure to higher yielding debt instruments may be gained through the use of derivatives. The Fund may also invest in other assets including collective investment schemes, government and public securities and other transferable securities, cash and near cash, deposits, warrants, money market instruments and other derivative instruments which may be denominated in any major global currency. Any non-European currency exposures within the fund may be managed by currency hedges in European currencies.
The M&G European High Yield Bond Fund focuses on ongoing proprietary research rather than relying on external credit ratings. Emphasis is placed upon investigating the ability of a company or government to meet its interest payments, especially during unfavourable economic conditions.
Credit risk is constantly monitored and always well spread across a variety of countries and industrial sectors. The fund’s exposure to higher yielding debt instruments may be gained through the use of derivatives. Exposure to European currencies (mainly the euro) is an integral part of the management approach, and fluctuations in the exchange rates of these currencies against sterling are likely to play a significant role in determining total returns for UK-based investors.
James Tomlins joined M&G in June 2011 and was appointed fund manager of the M&G European High Yield Corporate Bond Fund on 1 December 2011. James is a specialist in high yield credit with 10 years’ experience in this sector. He was previously an analyst and then a fund manager at Cazenove Capital Management. Before Cazenove, James spent a year at KBC Alternative Investment Management and in the three years prior to that worked at Merrill Lynch Investment Managers as a research analyst. James is a CFA charter holder and IMA member. He holds an MA in history and PgDip in economics from Trinity Hall College, Cambridge.
For more information on this fund please contact us.
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